Any other home buyers in NI?

qwert_yuiop

marathonic wrote: »

No wonder it sold in just 2 weeks then. If I were to guess, I'd say pick any two from the following:

• It was bought as a new build and no longer has the so-called 'new-build premium'
• He overpaid in the first place
• He sold too cheaply

Partly right - he overpaid a lot back then, but it's very old. Now it's even older and it needs a lot of work.
He just wanted out, and he only got one offer, take it or leave it.

I still don't think it's a bargain, though. Nor does he, evidently, considering he was so keen to pull the buyer's arm off.

qwert_yuiop

motorguy wrote: »

Firstly, we all know the example was based on cars, but was really about renting - it was merely demonstrating that even on an asset that depreciates like snow off a ditch like a car, interest paid on a loan is better than renting the asset.

Secondly, its hardly "financially devastating" to pay interest on a loan, particularly given you have the asset at the end of the loan, be it a house or a car.

Blimey.

We live in a market economy, where we are all theoretically in competition with everyone else in some neo- Hobbesian (did you like that word?) struggle for advantage and success.

This supposedly means I am in competition with you.

I think I can probably risk a tea break.

qwert_yuiop

motorguy wrote: »

Sure if he'd rented for 11 years he'd have been down more money anyway?

Given the interest paid, the inflation through that time, the rates, the problems he's had with it, the transaction costs, the opportunity costs and misallocation of capital - probably not. Oh - and the blaggard neighbours and their howling dogs.

Then again, he did have an asset to sell at the end of it. And that makes it all worthwhile. A privilege, almost.

Whoop.Eee.Doo.

motorguy

qwert_yuiop wrote: »

Given the interest paid, the inflation through that time, the rates, the problems he's had with it, the transaction costs, the opportunity costs and misallocation of capital - probably not. Oh - and the blaggard neighbours and their howling dogs.

Then again, he did have an asset to sell at the end of it. And that makes it all worthwhile. A privilege, almost.

Whoop.Eee.Doo.

This newly remembered invisible friend of yours seems very unlucky - paid far too much in the first place, all these problems, "blaggard" neighbours, howling dogs, etc, etc.

And all of which miraculously adds credence to your "dont buy" stance. What luck?

Oh, hang on. I was just talking to my friend here, Invisible Dave, and he saved a fortune by buying instead of renting, and his neighbours werent "blaggards", and he lived Happily Ever After.

qwert_yuiop

motorguy wrote: »

This newly remembered invisible friend of yours seems very unlucky - paid far too much in the first place, all these problems, "blaggard" neighbours, howling dogs, etc, etc.

And all of which miraculously adds credence to your "dont buy" stance. What luck?

Oh, hang on. I was just talking to my friend here, Invisible Dave, and he saved a fortune by buying instead of renting, and his neighbours werent "blaggards".

Stalemate eh?

Have you dusguarded my report ? He's called pat and you could meet him if you like . About to retire from here.

You could also meet Jackie , who's getting divorced and is selling a terrace house she bought as an investment with money she'd saved in the Middle East in 2003. Same price as she paid for it then.

Odd - this all points to property being outrageously cheap now, which ought to mean a buyer couldn't go wrong. ( unless the neighbour breeds Rottweilers) And you produce a nonsensical post to dismiss your own belief.

marathonic

motorguy wrote: »

Oh, hang on. I was just talking to my friend here, Invisible Dave, and he saved a fortune by buying instead of renting, and his neighbours werent "blaggards", and he lived Happily Ever After.

I'd hate to be the only one in such a fortunate position. It's nice to see that Invisible Dave has been just as lucky.

qwert_yuiop

marathonic wrote: »

I'd hate to be the only one in such a fortunate position. It's nice to see that Invisible Dave has been just as lucky.

So are there some superb bargains going these days or are we going to have some self defeating spiel about Santa Claus and the tooth fairy? Or are you an estate agent who truly believes it's impossible to lose on bricks and mortar? (Groan)

Cotta

Great thread and a lot of discussion regarding the average salary in NI, however my question is what is the average salary?

RTNI

£21,836 according to the Belfast Telegraph report on 9th Jan 2014

http://www.belfasttelegraph.co.uk/news/local-national/northern-ireland/northern-irelands-average-pay-packet-is-8000-lighter-than-one-earned-in-the-republic-29901251.html

qwert_yuiop

So you and your spouse are on average salaries.
How much would you spend on a mortgage without leaving yourselves in poverty?

Anything over 80 would be sticking your neck out?